Tuesday, July 1, 2014

Market News In 2 Minutes @ 1st July 2014

Market News in 2 minutes
As stock investors (even though a small one), it is important to keep abreast with the latest financial and market news. Since I am in it, I thought it might be worthwhile to share it out with my readers too.

Hence, I started this "Market News In 2 Minutes" series.
Following are the "Market News In 2 Minutes" for today :
1. CitySpring Infrastructure Trust said it has entered into a joint venture with Japanese construction company Shimizu Corp to develop a data centre in Singapore for around $130 million. After completion, the joint venture will lease the data centre to 1-Net Singapore, a subsidiary of MediaCorp. (source : The Edge)

2. Frasers Hospitality Trust, the hotels and serviced residences real estate investment trust (REIT), said its international placement of 139.6 million stapled securities at 88 cents each was 21 times subscribed. A group of cornerstone investors, including DBS and Fortress Capital Asset Management, had subscribed for another 232.9 million stapled securities, also at 88 cents each. (source : The Edge)

3. Accordia Golf Trust, which will be backed by golf courses in Japan, is seeking as much as $782 million  in a Singapore initial public offering. For more details of the report, click here. (source : The Edge)

4. Ying Li International (5DM) - The China-based property developer listed on the Singapore Exchange, is seeking the approval of shareholders to bring in CEL, the asset management arm of the China Everbright Group, as its strategic and second largest shareholder. For more details, click here(source : The Edge)

5. Olam International (O32) - Has agreed to the sale of its wholly-owned timber subsidiary in Gabon, Compagnie Forestière des Abeilles SA for a consideration of US$6 million. The divestment is in line with the company’s strategy to restructure its wood products portfolio, with a full exit from the timber business in Gabon to focus on the forestry business in the Republic of Congo. (source : Shares Investment)

6. Otto Marine (G4F) - Its subsidiaries have disposed three vessels, namely GO AVIOR, GO HAWK and GO HARRIER to Go Marine Services (M), a company in which the group has a 49 per cent stake, for US$37.5 million. The deal would generate an estimated net gain of approximately US$1 million which will be used to improve its working capital. (source : Shares Investment)


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